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అకౌంట్స్ గమనికలుAlphageo (India) Ltd.
Mar 31, 2025
(v) Terms and rights attached to equity shares
The company has only one class of equity shares having face value of H 10/- per share. The company declares and pay dividend in Indian rupees. The holder of equity shares is entitled to dividend right in the same proportion to the paid up capital. The dividend proposed by the Board of Directors is subject to approval of shareholders in the ensuing annual general meeting except in case of interim dividend. In the event of liquidation of the company, the holders of equity shares are entitled to receive remaining assets of the company, after distribution of all preferential amounts, in proportion to the number of equity shares held by them. Every holder of equity shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote.
Critical judgement in recognising variable consideration
Note 18(a): Revenue from contracts is net of variable consideration components including liquidated damages on account of present and future recoveries for committed periodical quantitative geophysical survey executions, determined as per the terms of the agreements .
Note 18(b): Information about major customers: Two customers represents 10% or more of the total revenue for the year ended March 31,2025 and One customer represents 10% or more of the total revenue for the years ended March 31,2024.
(i) Defined contribution plans
Employer''s contribution to provident fund: Contributions are made to provident fund for entitled employees at the prescribed rate as per regulations. The contributions are made to registered provident
fund administered by the government. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
Employer''s contribution to state insurance scheme: Contributions are made under state insurance scheme for entitled employees at the prescribed rate. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
(ii) Defined benefits plans Post-employment obligations- Gratuity
The company provides for gratuity payments to employees as per the payment of Gratuity Act, 1972. The amount of gratuity payable on retirement/termination based on the employees last drawn basic salary per month and the number of years of services with the company. Employees who are in continuous service for 5 years or more are eligible for gratuity
Effective October 01, 2010 the company established Alphageo India Limited employee''s group gratuity trust to administer the gratuity obligations in respect of employees other than whole time directors, who are holding more than 5% of the shareholding of the company. The gratuity plan is funded through group gratuity accumulation plan of Life insurance corporation of India.
The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognised in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.
Defined benefit liability and employer contributions
The company has purchased insurance policy to provide for payment of gratuity to the employees other than whole time directors, who are holding more than 5% of the shareholding of the company. Every year, the insurance company carries out a funding valuation based on the latest employee data provided by the company. Any deficit in the assets arising as a result of such valuation is funded by the company. The company considers that the contribution rate set at the last valuation date is sufficient to eliminate the deficit over the agreed period and that regular contributions, which are based on service costs will not increase significantly.
Risk management
The significant risks the company has in administering defined benefit plans are :
Interest rate risk: This may arise from volatility in asset values due to market fluctuations and impairment of assets due to credit losses. These plans primarily invest in debt instruments such as Government securities and highly rated corporate bonds - the valuation of which is inversely proportional to the interest rate movements.
Salary cost inflation risk: The present value of the defined benefit plan liability is calculated with reference to the future salaries of participants under the plan. Increase in salary due to adverse inflationary pressures might lead to higher liabilities.
Financial instruments and Risk management Note 30: Fair value hierarchy
Fair value of the financial instruments is classified in various fair value hierarchies based on the following three levels:
Level 1: Inputs are quoted prices (unadjusted) in active market for identical assets or liabilities.
Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.
Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case with listed instruments where market is not liquid and for unlisted instruments.
Note:
(i) The carrying amounts of trade payables, other financial liabilities, cash and cash equivalents, other bank balances, loans and trade receivables are considered to be the same as their fair values due to their short term nature and recoverability from/by the parties.
(i) In pursuance of exception in IND AS 107: Financial Instruments Disclosure in respect of Investment in equity instruments in subsidiaries carrying at cost, no further disclosure are required to be given in this regard.
Note 32: Financial risk management
The company''s activities expose it to credit risk, market risk and liquidity risk. The company emphasis on risk management and has an enterprise wide approach to risk management. The company''s risk management and control procedures involve prioritization and continuing assessment of these risks and device appropriate controls, evaluating and reviewing the control mechanism.
(A) Credit risk:
Credit risk is the risk of financial loss to the company if a customer to a financial instrument fails to meet its contractual obligations .The company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks. Credit risk of the company is managed at the company level. Credit risk on cash and cash equivalents is limited as the company generally invests in term deposits with banks thereby minimising its risk.
The credit risk related to trade receivables is influenced mainly by the individual characteristics of each customer. The credit risk is managed by the company by establishing credit limits and continuously
monitoring the credit worthiness of the customers. Financial assets are written off when there is no reasonable expectation of recovery.
(B) Market risk:
Market risk is the risk that the future value of a financial instrument will fluctuate due to moves in the market factors. The most common types of market risks are interest rate risk and foreign currency risk.
i) Interest rate risk
Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument will fluctuate because of changes in market interest rates. The interest rate risk is towards term deposits with banks. The company manages its market interest rates by fixed rate interest hence, the company is not significantly exposed to interest rate risks.
ii) Price risk
The company is exposed to risk from investments in mutual funds, bonds and debentures. The company has invested in quoted and unquoted investments with various mutual funds, bonds and debentures. The company is very cautious in their investment decisions and takes a conservative approach of investing in hybrid mutual funds, bonds and debentures with minimal risk. The table below summarises the impact of increase/(decrease) in the net asset value (NAV) of these investments.
(C) Liquidity risk:
Liquidity risk refers to the risk that the company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements.
The company manage its risk from their principle source of resources such as cash and cash equivalents, cash flows that is generated from operations and to ensure, as far as possible , that it will always have sufficient liquidity to meet the liabilities.
The company''s financial strategy aims to provide adequate capital for its growth plans for sustained stakeholder value. The company''s objective is to safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders and depending on the financial market scenario, nature of the funding requirements and cost of such funding, the company decides the optimum capital structure. The company aims at maintaining a strong capital base so as to maintain adequate supply of funds towards future growth plans as a going concern.
iii) Foreign currency risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. As the company is not foreseeing significant transaction in other than functional currency the exposure to the foreign currency is minimal.
Note 34(b) : During the Financial Year 2021-22 the company has received a notice from Income tax department on alleging an excess payment towards imports of machinery on which depreciation is disallowed amounting to H 867 Lakhs and issued demand notice of Rs 601 Lakhs is shown under contingent liability. During the period in the same matter Managing Director also received the demand in his personal capacity for the amount of H 1645 lakhs, which is indemnified by the company grouped under the income tax assets and also shown under contigient liability. The same is not required to be disclosed in Note no. 40 of the standalone financial statements. Company is not foreseeing any provision currently for the above based on external expert opinion obtained.
Note 35 : During the financial year 2022-23, Directorate of Enforcement had provisionally seized the fixed deposits amounting to H 1601.08 lakhs under foreign exchange and Management Act, 1999 (FEMA 1999) and the company had challenged the same before The Hon''ble Appellate Tribunal, FEMA, New Delhi . In this matter the company is still awaiting for the adjudicating proceedings. No Provision is considered by the management at this stage.
Note 36 : Payables to Micro, Small & Medium Enterprises
Information pertaining to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 ("Act") as given below has been determined to the extent such parties have been identified on the basis of information available with the company:
(a) Description of segments and principal activities
The Chairman and Managing Director has been identified as the Chief Operating Decision Maker (CODM). Operating segments are defined as components of an enterprise for which discrete financial information is available. This is evaluated regularly by the CODM, in deciding how to allocate resources and assessing the company''s performance. The company is engaged in seismic service and operates in a single operating segment.
In accordance with paragraph 4 of Ind AS 108- " Operating Segments" the company has disclosed segment information only on the basis of consolidated financial statements which are presented together along with the standalone financial statements.
Reasons for variance
Current ratio : Change on account of increase in trade payables
Net capital turnover ratio: Change on account of Increase in operating revenue and reduction in working capital.
Trade receivable turnover ratio: Change on account of increase in operating revenue and reduction in trade receivable.
Trade payable turnover ratio: Change on account of reduction in trade payable.
Note 44 (i): No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person(s) or entity(is), including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the company (Ultimate beneficiaries). The company has not received any fund from any party(s) (Funding party) with the understanding that the company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the company ("Ultimate beneficiaries") or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.Except as mentioned in Note 40
Note 44 (ii): No funds have been received by the company from any person or entity, including foreign entity ("Funding parties"), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in
any manner whatsoever by or on behalf of the funding party ("Ultimate beneficiaries") or provide any
guarantee, security or the like on behalf of the ultimate beneficiaries.Except as mentioned in Note 40
Note 45: Other statutory information
(i) The company does not have any benami property, where any proceeding has been initiated or pending against the company for holding any benami property.
(ii) The company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(iii) The company have not traded or invested in crypto currency or virtual currency during the financial year.
(iv) The company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)
(v) The company has not been declared as wilful defaulter by any banks, financial institution or other lenders.
(vi) The company has not entered into any scheme of arrangements which has an accounting impact on current and previous financial year.
(vii) The company has complied with the number of layers prescribed under the Companies Act, 2013.
(viii) The company does not have any transactions with a company struck-off under section 248 of the Companies Act, 2013
(ix) The company not revalued its property plant and equipment and intangible assets during the current and previous years.
Note 46: The figures for the previous year have been reclassified / regrouped wherever necessary to
conform to current year''s classification.
Mar 31, 2024
Note 12(a): There are no repatriation restrictions with regard to cash and cash equivalents as at the end of the reporting period and prior period.
Note13(a) : Earmarked balances with banks represents unclaimed dividend and unspent CSR accounts.
Note13(b) : Margin money deposits with banks consist of pledged / lien against bank guarantees of H1,186.57 lakhs (March 31,2023: H1224.34 lakhs ).
(v) Terms and rights attached to equity shares
The company has only one class of equity shares having face value of H10/- per share. The company declares and pay dividend in Indian rupees. The holder of equity shares is entitled to dividend right in the same proportion to the paid up capital. The dividend proposed by the Board of Directors is subject to approval of shareholders in the ensuring annual general meeting except in case of interim dividend. In the event of liquidation of the company, the holders of equity shares are entitled to receive remaining assets of the company, after distribution of all preferential amounts, in proportion to the number of equity shares held by them. Every holder of equity shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote.
Note 16(a) : Unpaid dividend account represents the dividend not claimed by the shareholders and there is no amount due and outstanding to be credited to investor education and protection fund.
Critical judgement in recognising variable consideration
Note 18(a): Revenue from contracts with customers is net of variable consideration components including liquidated damages on account of present and future recoveries for committed periodical quantitative geophysical survey executions, determined as per the terms of the agreements .
Note 18(b): Information about major customers: One customer represents 10% or more of the company''s total revenue for the year ended March 31,2024 and two customers for the year ended March 31,2023.
Note 18(d): Revenue from operations includes H1769.53 Lakhs related to amount accrued based on the favorable order received by the company subsequent to the conciliation proceedings with client with in respect of LD''s which are expensed in earlier years.
Analysis of the company''s income tax expense, given below explains significant estimates made in to relation to company''s tax position and also shows amounts that are recognised directly in equity and the effect of tax expense on account of non-assessable and non-deductible items.
(i) Defined contribution plans
Employer''s contribution to provident fund: Contributions are made to provident fund for entitled employees at the prescribed rate as per regulations. The contributions are made to registered provident fund administered by the government. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
Employer''s contribution to state insurance scheme: Contributions are made under state insurance scheme for entitled employees at the prescribed rate. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
(ii) Defined benefits plans Post-employment obligations- Gratuity
The company provides for gratuity payments to employees as per the payment of Gratuity Act, 1972. The amount of gratuity payable on retirement/termination based on the employees last drawn basic salary per month and the number of years of services with the company. Employees who are in continuous service for 5 years or more are eligible for gratuity.
Effective October 01, 2010 the company established Alphageo India Limited employee''s group gratuity trust to administer the gratuity obligations in respect of employees other than whole time directors of the company. The gratuity plan is funded through group gratuity accumulation plan of Life insurance corporation of India.
The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognised in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.
Defined benefit liability and employer contributions
The company has purchased insurance policy to provide for payment of gratuity to the employees other than whole time directors. Every year, the insurance company carries out a funding valuation based on the latest employee data provided by the company. Any deficit in the assets arising as a result of such valuation is funded by the company. The company considers that the contribution rate set at the last valuation date is sufficient to eliminate the deficit over the agreed period and that regular contributions, which are based on service costs will not increase significantly.
The significant risks the company has in administering defined benefit plans are :
Interest rate risk: This may arise from volatility in asset values due to market fluctuations and impairment of assets due to credit losses. These plans primarily invest in debt instruments such as Government securities and highly rated corporate bonds - the valuation of which is inversely proportional to the interest rate movements.
Salary cost inflation risk: The present value of the defined benefit plan liability is calculated with reference to the future salaries of participants under the plan. Increase in salary due to adverse inflationary pressures might lead to higher liabilities.
Financial instruments and Risk management Note 30: Fair value hierarchy
Fair value of the financial instruments is classified in various fair value hierarchies based on the following three levels:
Level 1: Inputs are quoted prices (unadjusted) in active market for identical assets or liabilities.
Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.
Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case with listed instruments where market is not liquid and for unlisted instruments.
Note:
(i) The carrying amounts of trade payables, other financial liabilities, cash and cash equivalents, other bank balances, loans and trade receivables are considered to be the same as their fair values due to their short term nature and recoverability from/by the parties.
(i) In pursuance of exception in INDAS 107: Financial Instruments Disclosure in respect of Investment in equity instruments in subsidiaries carrying at cost, no further disclosure are required to be given in this regard.
Note 32: Financial risk management
The company''s activities expose it to credit risk, market risk and liquidity risk. The company emphasis on risk management and has an enterprise wide approach to risk management. The company''s risk management and control procedures involve prioritization and continuing assessment of these risks and device appropriate controls, evaluating and reviewing the control mechanism.
Credit risk is the risk of financial loss to the company if a customer to a financial instrument fails to meet its contractual obligations .The company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks. Credit risk of the company is managed at the company level. Credit risk on cash and cash equivalents is limited as the company generally invests in term deposits with banks thereby minimising its risk.
The credit risk related to intercorporate deposit given is influenced mainly by the borrower (Party). The credit risk is managed by the company by establishing monitoring the credit worthiness of the borrower before it grants intercorporate deposit.
The credit risk related to trade receivables is influenced mainly by the individual characteristics of each customer. The credit risk is managed by the company by establishing credit limits and continuously monitoring the credit worthiness of the customers. Financial assets are written off when there is no reasonable expectation of recovery.
Market risk is the risk that the future value of a financial instrument will fluctuate due to moves in the market factors. The most common types of market risks are interest rate risk and foreign currency risk.
i) Interest rate risk
Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument will fluctuate because of changes in market interest rates. The interest rate risk is towards term deposits with banks. The company manages its market interest rates by fixed rate interest hence, the company is not significantly exposed to interest rate risks .
The company is exposed to risk from investments in mutual funds, bonds and debentures. The company has invested in quoted and unquoted investments with various mutual funds, bonds and debentures. The company is very cautious in their investment decisions and takes a conservative approach of investing in hybrid mutual funds, bonds and debentures with minimal risk. The table below summarises the impact of increase/(decrease) in the net asset value (NAV) of these investments.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. As the company is not foreseeing significant transaction in other than functional currency the exposure to the foreign currency is minimal.
Liquidity risk refers to the risk that the company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements.
The company manage its risk from their principle source of resources such as cash and cash equivalents, cash flows that is generated from operations and other means of borrowings, to ensure, as far as possible, that it will always have sufficient liquidity to meet the liabilities.
The company''s financial strategy aims to provide adequate capital for its growth plans for sustained stakeholder value. The company''s objective is to safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders and depending on the financial market scenario, nature of the funding requirements and cost of such funding, the company decides the optimum capital structure. The company aims at maintaining a strong capital base so as to maintain adequate supply of funds towards future growth plans as a going concern.
During the financial year 2021-22, company received notices of demand under section 156 of the income tax act relating to the seven assessment years from 2014-15 to 2020-21 amounting to H601.58 lakhs on account of the dispute related to the allowability of depreciation. Company preferred to contest the same and filed an appeal before the relevant appellate authorities within the stipulated time. Company''s management considered it to be probable that the appeal will be in its favour and has therefore not recognised the provision in relation to this demand and the same had been considered as contingent liability.
Note 35: Term deposits with banks includes H1601.08 Lakhs seized by the Directorate of Enforcement alleging contravention under section 4 of Foreign Exchange and Management Act, 1999 (FEMA 1999). The company is still awaiting notice from the adjudicating authority to challenge the same.
Note 36: Payables to Micro, Small & Medium Enterprises
Information pertaining to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 ("Act") as given below has been determined to the extent such parties have been identified on the basis of information available with the company:
Note: The list of undertakings covered under MSMED was determined by the company on the basis of information/confirmations available with the company and has been relied upon by the auditors.
(a) Description of segments and principal activities
The Chairman & Managing Director has been identified as the Chief Operating Decision Maker (CODM). Operating segments are defined as components of an enterprise for which discrete financial information is available. This is evaluated regularly by the CODM, in deciding how to allocate resources and assessing the company''s performance. The company is engaged in seismic service and operates in a single operating segment.
In accordance with paragraph 4 of Ind AS 108- "Operating Segments" the company has disclosed segment information only on the basis of consolidated financial statements which are presented together along with the standalone financial statements.
Note 39: Interest in other entities
The company''s subsidiaries as at March 31, 2024 are set out below. Unless otherwise stated, they have share capital consisting solely of equity shares that are held directly by the company.
Current ratio: Change on account of increase in trade payables
Debt service coverage ratio: Change on account of Increase in operating revenue and reduction in debt. Trade receivable turnover ratio: Change on account of increase in operating revenue and reduction in trade receivable.
Trade payable turnover ratio: Change on account of reduction in trade payable.
Note 44 (i): No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person(s) or entity(is), including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the company (Ultimate beneficiaries). The company has not received any fund from any party(s) (Funding party) with the understanding that the company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the company ("Ultimate beneficiaries") or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
Note 44 (ii): No funds have been received by the company from any person or entity, including foreign entity ("Funding parties"), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party ("Ultimate beneficiaries") or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
Note 45: Other statutory information
(i) The company does not have any benami property, where any proceeding has been initiated or pending against the Company for holding any benami property.
(ii) The company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(iii) The company have not traded or invested in crypto currency or virtual currency during the financial year.
(iv) The company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)
(v) The company has not been declared as wilful defaulter by any banks, financial institution or other lenders.
(vi) The company has not entered into any scheme of arrangements which has an accounting impact on current and previous financial year.
(vii) The company has complied with the number of layers prescribed under the Companies Act, 2013.
(viii) The company does not have any transactions with a company struck-off under section 248 of the Companies Act, 2013
(ix) The company not revalued its property plant and equipment and intangible assets during the current and previous years.
Note 46: The figures for the previous year have been reclassified / regrouped wherever necessary to
conform to current year''s classification.
Mar 31, 2023
(i) Terms and rights attached to equity shares
The company has only one class of equity shares having face value of C10/- per share. The company declares and pay dividend in Indian rupees. The holder of equity shares is entitled to dividend right in the same proportion to the paid up capital. The dividend proposed by the Board of Directors is subject to approval of shareholders in the ensuring annual general meeting except in case of interim dividend. In the event of liquidation of the company, the holders of equity shares are entitled to receive remaining assets of the company, after distribution of all preferential amounts, in proportion to the number of equity shares held by them. Every holder of equity shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote.
Note 16(a) : Unpaid dividend account represents the dividend not claimed by the shareholders and there is no amount due and outstanding to be credited to investor education and protection fund.
Critical judgement in recognising variable consideration
Note 19(a): Revenue from contracts with customers is net of variable consideration components including liquidated damages on account of present and future recoveries for committed periodical quantitative geophysical survey executions, determined as per the terms of the agreements .
Note 19(b): Information about major customers: Two customers represents 10% or more of the company''s total revenue for the years ended March 31,2023 and 2022.
Note 26 : Tax expense
Analysis of the company''s income tax expense, given below explains significant estimates made in to relation to company''s tax position and also shows amounts that are recognised directly in equity and the effect of tax expense on account of non-assessable and non-deductible items.
*The company has transferred the unspent amount of C 13.00 lakhs (March 31, 2022 : C25.30 lakhs) to year wise separated unspent CSR bank accounts within 30 days from the end of the respective financial years as per the provisions of the Companies Act, 2013. The company maintaining the unspent CSR bank accounts for the current year with PNB bank and for previous years with Axis bank.
Note 29 (a): Trade receivables of previous year are hypothecated with banks where working capital financing is sanctioned. (Refer note :43)
Employer''s contribution to provident fund: Contributions are made to provident fund for entitled employees at the prescribed rate as per regulations. The contributions are made to registered provident fund administered by the government. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
Employer''s contribution to state insurance scheme: Contributions are made under state insurance scheme for entitled employees at the prescribed rate. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
(ii) Defined benefits plans Post-employment obligations- Gratuity
The company provides for gratuity payments to employees as per the payment of Gratuity Act, 1972. The amount of gratuity payable on retirement/termination based on the employees last drawn basic salary per month and the number of years of services with the company. Employees who are in continuous service for 5 years or more are eligible for gratuity.
Effective October 01, 2010 the company established Alphageo India Limited employee''s group gratuity trust to administered the gratuity obligations in respect of employees other than whole time directors of the company. The gratuity plan is funded through group gratuity accumulation plan of Life insurance corporation of India.
The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as when calculating the defined benefit liability recognised in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.
The company has purchased insurance policy to provide for payment of gratuity to the employees other than whole time directors. Every year, the insurance company carries out a funding valuation based on the latest employee data provided by the company. Any deficit in the assets arising as a result of such valuation is funded by the company. The company considers that the contribution rate set at the last valuation date is sufficient to eliminate the deficit over the agreed period and that regular contributions, which are based on service costs will not increase significantly.
The weighted average duration of the defined benefit obligation is 3.84 years (March 31,2022: 3.90 Years). The expected future cash flows over the next years, which will be met out of planned assets, is as follows:
The significant risks the company has in administering defined benefit plans are :
Interest rate risk: This may arise from volatility in asset values due to market fluctuations and impairment of assets due to credit losses. These plans primarily invest in debt instruments such as Government securities and highly rated corporate bonds - the valuation of which is inversely proportional to the interest rate movements.
Salary cost inflation risk: The present value of the defined benefit plan liability is calculated with reference to the future salaries of participants under the plan. Increase in salary due to adverse inflationary pressures might lead to higher liabilities.
Financial instruments and Risk management Note 31: Fair value hierarchy
Fair value of the financial instruments is classified in various fair value hierarchies based on the following three levels:
Level 1: Inputs are quoted prices (unadjusted) in active market for identical assets or liabilities.
Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.
Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). If one or more of the significant inputs is not based on observable market data, the instrument
is included in level 3. This is the case with listed instruments where market is not liquid and for unlisted instruments.
(i) The carrying amounts of trade payables, other financial liabilities, cash and cash equivalents, other bank balances, others and trade receivables are considered to be the same as their fair values due to their short term nature and recoverability from/by the parties.
(i) In pursuance of exception in INDAS 107: Financial Instruments Disclosure in respect of Investment in equity instruments in subsidiaries carrying at cost, no further disclosure are required to be given in this regard.
The company''s activities expose it to credit risk, market risk and liquidity risk. The company emphasis on risk management and has an enterprise wide approach to risk management. The company''s risk management and control procedures involve prioritization and continuing assessment of these risks and device appropriate controls, evaluating and reviewing the control mechanism.
Credit risk is the risk of financial loss to the company if a customer to a financial instrument fails to meet its contractual obligations .The company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks. Credit risk of the company is managed at the company level. Credit risk on cash and cash equivalents is limited as the company generally invests in term deposits with banks thereby minimising its risk.
The credit risk related to intercorporate deposit given is influenced mainly by the borrower (Party). The credit risk is managed by the company by establishing monitoring the credit worthiness of the borrower before it grants intercorporate deposit.
The credit risk related to trade receivables is influenced mainly by the individual characteristics of each customer. The credit risk is managed by the company by establishing credit limits and continuously monitoring the credit worthiness of the customers. Financial assets are written off when there is no reasonable expectation of recovery.
Market risk is the risk that the future value of a financial instrument will fluctuate due to moves in the market factors. The most common types of market risks are interest rate risk and foreign currency risk.
i) Interest rate risk
Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument will fluctuate because of changes in market interest rates. The interest rate risk is towards term deposits with banks. The company manages its market interest rates by fixed rate interest hence, the company is not significantly exposed to interest rate risks .
The company is exposed to risk from investments in mutual funds, bonds and debentures. The company has invested in quoted and unquoted investments with various mutual funds, bonds and debentures. The company is very cautious in their investment decisions and takes a conservative approach of investing in
hybrid mutual funds, bonds and debentures with minimal risk. The table below summarises the impact of increase/(decrease) in the net asset value (NAV) of these investments.
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. As the company is not foreseeing significant transaction in other than functional currency the exposure to the foreign currency is minimal.
Liquidity risk refers to the risk that the company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements.
The company manage its risk from their principle source of resources such as cash and cash equivalents, cash flows that is generated from operations and other means of borrowings, to ensure, as far as possible, that it will always have sufficient liquidity to meet the liabilities.
The company''s financial strategy aims to provide adequate capital for its growth plans for sustained stakeholder value. The company''s objective is to safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders and depending on the financial market scenario, nature of the funding requirements and cost of such funding, the company decides the optimum capital structure. The company aims at maintaining a strong capital base so as to maintain adequate supply of funds towards future growth plans as a going concern.
During the financial year 2021-22, company received notices of demand under section 156 of the income tax act relating to the seven assessment years from 2014-15 to 2020-21 amounting to C 601.58 lakhs on account of the dispute related to the allowability of depreciation. Company preferred to contest the same and filed an appeal before the relevant appellate authorities within the stipulated time. Company''s management considered it to be probable that the appeal will be in its favor and has therefore not recognised the provision in relation to this demand and the same had been considered as contingent liability.
Note 36 : Term deposits with banks includes C1601.08 Lakhs seized by the Directorate of Enforcement alleging contravention under section 4 of Foreign Exchange and Management Act, 1999 (FEMA 1999). The company is still awaiting notice from the adjudicating authority to challenge the same.
Note 37 : Payables to Micro, Small & Medium Enterprises
Information pertaining to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 ("Act") as given below has been determined to the extent such parties have been identified on the basis of information available with the company:
(a) Description of segments and principal activities
The Chairman & Managing Director has been identified as the Chief Operating Decision Maker (CODM). Operating segments are defined as components of an enterprise for which discrete financial information is available. This is evaluated regularly by the CODM, in deciding how to allocate resources and assessing the company''s performance. The company is engaged in seismic service and operates in a single operating segment.
In accordance with paragraph 4 of Ind AS 108- " Operating Segments" the company has disclosed segment information only on the basis of consolidated financial statements which are presented together along with the standalone financial statements.
Note 43: Assets pledged as security
During the year the parent company had withdrawn all the working capital limits from the banks and filed the charge satisfaction against the same. The carrying amounts of company''s assets pledged as security for current borrowings are C nil /- (Previous year first charge on hypothecation of stocks, book debts and current assets of C 19,720.74 lakhs and Second charge on Equitable mortgage of land and buildings and movable fixed assets of C 5,282.33 lakhs). Till the closure of working capital limits with banks, quarterly returns or statement filed with the banks / financial institutions are in agreement with books of accounts.
Current ratio : Change on account of current year accruals.
Debt-equity ratio: Change on account of repayment of total debt during the year.
Debt service coverage ratio: Change on account of decrease in operating revenue and reduction in debt. Trade receivable turnover ratio: Change on account of decrease in operating revenue and reduction in trade receivable.
Net capital turnover ratio: Change on account of decrease in operating revenue .
Note 46 (i): No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries") with the understanding, whether recorded in writing or otherwise, that the intermediary shall lend or invest in party identified by or on behalf of the company (Ultimate beneficiaries). The company has not received any fund from any party(s) (Funding party) with the understanding that the company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the company ("Ultimate beneficiaries") or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
Note 46 (ii): No funds have been received by the company from any person or entity, including foreign entity ("Funding parties"), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party ("Ultimate beneficiaries") or provide any guarantee, security or the like on behalf of the ultimate beneficiaries.
Note 47: Disclosure for struck off companies
The following table depicts the details of balances outstanding in respect of transactions undertaken with a company struck-off under section 248 of the Companies Act, 2013:
Note 48: Other statutory information
(i) The company does not have any benami property, where any proceeding has been initiated or pending against the Company for holding any benami property.
(ii) The company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
(iii) The company have not traded or invested in crypto currency or virtual Currency during the financial year.
(iv) The company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).
(v) The company has not been declared as wilful defaulter by any banks, financial institution or other lenders.
(vi) The company has not entered into any scheme of arrangements which has an accounting impact on current and previous financial year.
(vii) The company has complied with the number of layers prescribed under the Companies Act, 2013.
Note 49: The figures for the previous year have been reclassified / regrouped wherever necessary to conform to current year''s classification.
The accompanying notes are an integral part of the financial statements
Mar 31, 2018
1. Corporate Information
1.1 Alphageo (India) Limited (the Company or AGIL) is a public limited company incorporated in the year 1987 under the provisions of erstwhile Companies Act, 1956 having its registered office at Hyderabad in the state of Telangana, India. The Equity Shares of the Company are listed with Stock Exchanges in India viz., BSE Limited, Mumbai and the National Stock Exchange of India Limited, Mumbai.
1.2 The Company is providing Seismic Data Acquisition,
Processing and Interpretation Services for hydrocarbons to Oil Exploration and Production Entities, Research Institutions etc.,
1.3 These financial statements are approved and authorised for issue by the Board of Directors on May 18, 2018.
2. Basis of Preparation of financial statements
The financial statements have been prepared as a going concern on accrual basis of accounting. The company has adopted historical cost basis for assets and liabilities except for certain items which have been measured on a different basis and such basis is disclosed in the relevant accounting policy. The financial statements are presented in Indian Rupees (INR).
Compliance with Ind AS
The financial statements comply in all material aspects with Indian Accounting Standards (IndAS) notified under Section 133 of the Companies Act, 2013 (the Act) Companies (Indian Accounting Standards) Rules, 2015 and other relevant provisions of the Act.
The financial statements up to year ended March 31, 2017 were prepared in accordance with the Accounting Standards notified under Companies (Accounting Standard) Rules, 2006 (as amended) and other relevant provisions of the Act.
These financial statements are the first financial statements of the company under Ind AS. Note 35 explains, how the transition from previous GAAP to Ind AS was carried out in accordance with Ind AS 101 FirstTime Adoption of Indian Accounting Standards with the date of transition as April 01, 2016 and the effect of transition on the companyâs financial position, financial performance and cash flows.
Current and non-current classification
All assets and liabilities have been classified as current or non-current as per Companyâs operating cycle and other criteria set out in Schedule-III of the Companies Act 2013. Based on the nature of business, the Company has ascertained its operating cycle as 12 months for the purpose of Current or non-current classification of assets and liabilities.
An asset is classified as current if:
(i) It is expected to be realised or sold or consumed in the Companyâs normal operating cycle;
(ii) It is held primarily for the purpose of trading;
(iii) It is expected to be realized within twelve months after the reporting period; or
(iv) It is cash or a cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.
A liability is classified as current if:
(i) It is expected to be settled in normal operating cycle;
(ii) It is held primarily for the purpose of trading;
(iii) It is expected to be settled within twelve months after the reporting period;
(iv) It has no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.
All other assets and liabilities are classified as noncurrent. Deferred tax assets and liabilities are classified as non current only.
Note 3(a): Property, plant and equipment
i) Vehicles includes the following amounts where the company has taken on finance lease are provided as security to the finance lease obligation - Refer
Note :4
Note11(a) : Margin Money Deposits includes RS.14,31,77,035/- (March 31,2017 RS.10,62,54,823/- and April 01, 2016 RS.7,00,06,706/-) pledged / lien against bank guarantees issued by the Bank. Further, RS.2,41,00,000/- (March 31,2017 RS.2,41,00,000/- and April 01, 2016 RS.1,35,00,000/-) pledged / lien against working capital loans.
* Earmarked Balances represents unclaimed dividend
Note : The Loan to subsidiary represents the inter corporate loan given to its subsidiary to meet its business needs and exigencies carrying interest @ 11% per annum.
Issue of Share Warrants:
7,30,000 Warrants were issued and allotted to Promoter and Promoter Group on preferential basis at an issue price of H 513.62 per warrant on 26.11.2015. The allottees paid the amount as per the terms of the issue.4,85,000 Warrants were converted into equity shares during 2016 -17 and 2,45,000 Warrants were converted into equity shares during 2017 -18.
Terms and rights attached to equity shares
The Company has only one class of equity shares having face value of INR 10 per share. The Company declares and pays dividends in Indian rupees. In the event of liquidation of the company, the holders of equity shares are entitled to receive remaining assets of the company, after distribution of all preferential amounts, in proportion to the number of equity shares held by them. Every holder of equity shares present at a meeting in person or by proxy, is entitled to one vote, and upon a poll each share is entitled to one vote.
Note 5(a): Fi nance Lease obligations are secured by the assets financed through the lease arrangements and are repayable in the equal monthly instalments over a period of 2-3 years and carry a finance charge of 8.87% - 10.63%.
Note 5(b) : The above loans are secured (primary ) by the First charge (Pari -passu) on entire current assets of the company and further secured by the First charge (Pari -passu) on all the fixed assets of the company both present and future. These loans are further, secured by equitable mortgage of certain immovable properties belonging to three directors and two of their relatives and their personal guarantees.
Note 5(c) : Rate of interest on the above borrowings is at applicable MCLR plus applicable spread i.e 2 %- 2.75 % in terms of sanction of respective banks.
Note 6(a):
(i) Defined Contribution plans
Employerâs Contribution to Provident Fund: Contributions are made to provident fund for entitled employees at the prescribed rate as per regulations. The contributions are made to registered provident fund administered by the government. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
Employerâs Contribution to State Insurance Scheme: Contributions are made under State Insurance Scheme for entitled employees at the prescribed rate to Employee State Insurance Corporation. The obligation of the company is limited to the amount contributed and it has no further contractual nor any constructive obligation.
(ii) Defined Benefits plans Post-employment obligations- Gratuity
The company provides for gratuity payments to employees as per the payment of Gratuity Act, 1972. The amount of gratuity payable on retirement/termination based on the employees last drawn basic salary per month and the number of years of services with the company.
Effective October 01, 2010 the company established Alphageo India Limited Employeeâs Group Gratuity Trust to administer the gratuity obligations in respective of employee other than Whole time directors of the company. The gratuity plan is funded through group gratuity accumulation plan of Life insurance corporation of India.
The above sensitivity analysis are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as and when calculating the defined benefit liability recognised in the balance sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior period.
Defined benefit liability and employer contributions
The Company has purchased insurance policy to provide for payment of gratuity to the employees. Every year, the insurance company carries out a funding valuation based on the latest employee data provided by the Company. Any deficit in the assets arising as a result of such valuation is funded by the Company. The company considers that the contribution rate set at the last valuation date is sufficient to eliminate the deficit over the agreed period and that regular contributions, which are based on service costs will not increase significantly.
The weighted average duration of the defined benefit obligation is 9.42 years. The expected future cash flows over the next years, which will be met out of planned assets, is as follows:
Risk Management
The Significant risks the company has in administering defined benefit plans are :
Interest Rate Risk: This may arise from volatility in asset values due to market fluctuations and impairment of assets due to credit losses. These Plans primarily invest in debt instruments such as Government securities and highly rated corporate bonds - the valuation of which is inversely proportional to the interest rate movements.
Salary Cost Inflation Risk: The present value of the Defined Benefit Plan liability is calculated with reference to the future salaries of participants under the Plan. Increase in salary due to adverse inflationary pressures might lead to higher liabilities.
Note 7.1 : Unpaid dividend account represents the dividend not claimed by the shareholders and there is no amount due and outstanding to be credited to Investor Education and Protection Fund
Note 8(a): Details of Operating Lease
The Companyâs significant leasing arrangements are in respect of operating leases for office premises. These leasing arrangements are with non-cancellable range for 3 years and usually renewable by mutual consent on mutually agreeable terms on maturity. The aggregate lease rentals payable are charged as âRentâ .
Note 9(a): Bad debts written off
The Company, as part of Revenue from operations for the year ended March 31, 2018, in terms of INDAS-18: Revenue, has not recognised H 6,62,76,594/- for Seismic Data acquisition services rendered as revenue for the year due to uncertainty in collectability and flow of economic benefits to the company. On account of the same customer, Receivables due for the year ended March 31, 2017 of H 1,59,72,755/- has been written off as bad debt for the year ended March 31,2018 .
Note 10: Tax expense
Analysis of the companyâs income tax expense, given below explains significant estimates made in to relation to companyâs tax position and also shows amounts that are recognised directly in equity and the effect of tax expense on account of non-assessable and non-deductible items.
Financial Instruments and Risk Management
Note 11: Fair Value Hierarchy
Fair value of the financial instruments is classified in various fair value hierarchies based on the following three levels: Level 1: Inputs are quoted prices (unadjusted) in active market for identical assets or liabilities.
Level 2: Inputs other than quoted price including within level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If significant inputs required to fair value an instrument are observable, the instrument is included in Level 2.
Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs). If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case with listed instruments where market is not liquid and for unlisted instruments.
Note:
(i) The carrying amounts of trade payables, other financial liabilities, borrowings, cash and cash equivalents, other bank balances, trade receivables and loans are considered to be the same as their fair values due to their short term nature and recoverability from /by the parties.
Notes:
(i) In pursuance of exception in INDAS 107: Financial Instruments Disclosure in respect of Investment in equity instruments in subsidiaries carrying at cost, no further disclosure are required to be given in this regard.
Note 12: Financial Risk Management
The Companyâs activities expose it to Credit risk, Market risk and Liquidity risk . The Company emphasis on risk management and has an enterprise wide approach to risk management. The Companyâs risk management and control procedures involve prioritization and continuing assessment of these risks and device appropriate controls, evaluating and reviewing the control mechanism.
(A) Credit Risk:
Credit risk is the risk of financial loss to the Company if a customer to a financial instrument fails to meet its contractual obligations .The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks. Credit risk of the Company is managed at the Company level.
The credit risk related to trade receivables is influenced mainly by the individual characteristics of each customer. The credit risk is managed by the company by establishing credit limits and continuously monitoring the credit worthiness of the customers. The Company is not required to provide for expected credit losses based on the past experience where it believes that there is no probability of default based on credit worthiness of company customers. In general, all trade receivables are received within 90 days from the date it become due. Financial assets are written off when there is no reasonable expectation of recovery.
The ageing analysis of the receivables (gross of provisions) has been considered from the date the invoice :
Note:
Significant revenue and receivable is from major public sector companies in oil and gas exploration business with a credit rating of AAA . As the Management is not foreseeing any loss from the parties based on the evaluation of past trend,the carrying value of trade receivable is equal to its fair value and no loss allowance is required to be made.
(B) Market Risk:
Market Risk is the risk that the future value of a financial instrument will fluctuate due to moves in the market factors. The most common types of market risks are interest rate risk and foreign currency risk.
- Interest Rate Risk
Interest rate risk is the risk that the future cash flows or the fair value of a financial instrument will fluctuate because of changes in market interest rates. The Company manages its market interest rates by fixed rate interest . Hence ,the Company is not significantly exposed to interest rate risks.
- Foreign Currency Risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. As the company is not foreseeing significant transaction in other than functional currency the exposure to the foreign currency is minimal.
(C) Liquidity Risk:
Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements.
The Company manage its risk from their principle source of reasources such as cash and cash equivalents , cash flows that is generated from operations and other means of borrowings, to ensure, as far as possible , that it will always have sufficient liquidity to meet the liabilities.
Note 13: Capital Management
The Companyâs financial strategy aims to provide adequate capital for its growth plans for sustained stakeholder value. The companyâs objective is to safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders. And depending on the financial market scenario, nature of the funding requirements and cost of such funding, the Company decides the optimum capital structure. The Company aims at maintaining a strong capital base so as to maintain adequate supply of funds towards future growth plans as a going concern.
Note 14 : Payables to Micro, Small & Medium Enterprises
Information pertaining to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 (âActâ) as given below has been determined to the extent such parties have been identified on the basis of information available with the company:
Note: The list of undertakings covered under MSMED was determined by the Company on the basis of information available with the Company and has been relied upon by the auditors.
Note 15: The following are the details of loans and advances in the nature of loans given to subsidiaries, associates and other entities in which directors are interested in terms of the Regulation 34(3) read together with para A of Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Note 16: Finance Lease :
The Company has taken vehicles on finance lease. The future lease rent payable on such vehicles taken on finance lease are as follows:
Note 17 : First-time adoption of Ind AS
Transition to Ind AS
These are the Companyâs first financial statements prepared in accordance with Ind AS with the transition date April 1, 2016. The accounting policies set out in Note 2 have been applied in preparing the financial statements for the year ended March 31, 2018, the comparative information presented in these financial statements for the year ended March 31, 2017 and in the preparation of an opening Ind AS balance sheet at April 01, 2016 (companyâs date of transition). In preparing its opening Ind AS balance sheet, the Company has adjusted the amounts reported previously in financial statements prepared in accordance with the accounting standards notified under Companies (Accounting standards) Rules, 2006 (as amended) and other relevant provisions of the Act(previous GAAP or Indian GAAP). An explanation on how the transition from previous GAAP to Ind AS has effected the Companyâs financial position, financial performance and cash flows is set out in the following tables and notes.
A. Exemptions and exceptions availed
Set out below are the applicable Ind AS 101 optional exemptions and mandatory exceptions applied in the transition from previous GAAP to Ind AS.
A.1 Ind AS optional exemptions
A.1.1 Deemed Cost
The Company has elected to measure items of property, plant and equipment and intangible assets at its carrying value at the transition date as deemed cost.
A.1.2 Investments in subsidiaries, joint ventures and associates
The Company has elected to measure investment in subsidiaries at the previous GAAP carrying amount as its deemed cost on the date of transaction to Ind AS.
A.2 Ind AS mandatory exceptions
A.2.1 Estimates
An entityâs estimates in accordance with Ind AS at the date of transition to Ind As shall be consistent with the estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.
Ind AS estimates as at April 01, 2016 are consistent with the estimates as at the same date made in conformity with previous GAAP. The Company made estimates for following items in accordance with Ind AS at the date of transition as these were not required under previous GAAP:
- Impairment of financial asset based on expected credit loss model.
A.2.2 Classification and measurement of financial asset
Ind AS 101 requires an entity to assess classification and measurement of financial assets(investments in debt instruments) on the basis of the facts and circumstances that exist on the date of transition to Ind AS.
B. Notes to first-time adoption:
Note 1: Remeasurements of defined benefits plan
Under Ind AS, remeasurements i.e. Actuarial gains and losses and the return on plan assets, excluding amounts included in the net interest expense on the net defined benefit liability are recognised in other comprehensive income instead of profit or loss. Under the previous GAAP, these remeasurements were forming part of the profit or loss for the year. As a result of this change, the profit for the year ended March 31, 2017 increased by RS.1,60,831/-. There is no impact on the total equity as at March 31, 2017.
Note 2: Reserves and Surplus
Retained earnings as at April 01, 2016 has been adjusted consequent to the above Ind AS transition adjustments.
Proposed Dividend
Under previous GAAP Proposed dividends including dividend distribution tax are recognised as a liability in the period to which they relate, irrespective of when they are declared. Under Ind AS, a proposed dividend is recognised as a liability in the period in which it is declared by the company (usually when approved by shareholders in a general meeting) or paid. Therefore, the liability (including tax) of RS.1,35,63,746/- for the year ended on March 31, 2016 recorded for proposed dividend has been derecognised against retained earnings on 1 April 2016.
Note 3: Other comprehensive income
Under Ind AS, all items of income and expense recognized in a period should be included in the profit or loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are not recognised in profit or loss but are shown in the statement of profit or loss as âother comprehensive incomeâ includes remeasurements of defined benefit plans. The concept of âother comprehensive incomeâ did not exist under previous GAAP.
Note 18 : Segment Information
(a) Description of segments and principal activities
The Chairman & Managing Director has been identified as the Chief Operating Decision Maker (CODM). Operating segments are defined as components of an enterprise for which discrete financial information is available. This is evaluated regularly by the CODM, in deciding how to allocate resources and assessing the Companyâs performance. The Company is engaged in Seismic Service and operates in a single operating segment.
In accordance with paragraph 4 of Ind AS 108- â Operating Segmentsâ the company has disclosed segment information only on the basis of consolidated financial statements which are presented together along with the standalone financial statements.
Note 19: Interest in Other Entities
The Companyâs subsidiaries as at March 31, 2018 are set out below. Unless otherwise stated, they have share capital consisting solely of equity shares that are held directly by the Company.
(f) Terms and Conditions
Transactions relating to dividends were on the same terms and conditions that applied to other stake holders.
* Provision for employee benefits, which are based on actuarial valuation done on an overall company basis, is excluded.
Note 20: Events occurring after the reporting period
(i) Proposed Dividend
The final dividend proposed and recommended by the Board of Directors for the approval of Members at the ensuing annual general meeting:
* Dividend distribution tax is payable at the time payment of dividend.
Mar 31, 2016
II. OTHER EXPLANATORY INFORMATION
1. Corporate Information:
Alphageo (India) Limited (the Company or AGIL) is a public limited company incorporated under the provisions of erstwhile Companies Act, 1956 having its registered office at Hyderabad in the state of Telangana, India. The Equity Shares of the Company are listed with Stock Exchanges in India viz., BSE Limited, Mumbai and the National Stock Exchange of India Limited, Mumbai.
The Company is a leading service provider of 2 Dimensional and 3 Dimensional Seismic Data Acquisition, Processing and Interpretation Services for Oil Exploration and Production Entities. The Company possesses an experience of working in difficult terrains while respecting local socio-economic realities and environment.
2. Previous year figures have been regrouped/ recast/ rearranged wherever necessary to conform to current year classification.
3. In the opinion of the Board, all assets other than fixed assets and non-current investments have a value on realization in the ordinary course of business at least equal to the amount at which they are stated and provision for all known liabilities have been made.
4. Disclosure on utilization of proceeds of preferential issues in terms of SEBI (ICDR) Regulation 2009:
In pursuance of approval, under Section 62(1)( c), Section 42 and other applicable provisions of the Companies Act 2013 and the Rules made there under, of the Members at the Extra Ordinary General Meeting held on 11th November, 2015 and in compliance with SEBI (Issue of Capital And Disclosure Requirements) Regulations, 2009 and applicable laws, rules and regulations, the Company has issued and allotted, to promoter and promoter group on preferential basis, 7,30,000 Warrants of H513.62 each (issue price) convertible into One Equity Share of H10/- each at the option of the Allottees with in a period of 18 months from the date of allotment subject to fulfillment of terms of the issue and is in receipt of 25% of the issue price amounting to H9,37,35,650/- as allotment money on these warrants. The Proceeds thus received have been utilized in total in terms of one of the objects of issue viz., for financing the capital expenditure of the Company.
5. Dues of the Micro and Small Enterprises:
Information pertaining to Micro and Small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 (Act) is given below and dues of micro and small enterprises has been determined to the extent such parties have been identified on the basis of information available with the Company and relied on by the auditors:
iii. Defined Benefit Plans
The present value of obligation in respect of Provision for Payment of Gratuity and Leave encashment is determined, based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation, recognized and charged off during the year are as detailed below:
6. Segmental Reporting:
As the Companyâs business consists of one reportable business and geographical segment of Seismic Data Acquisition and its related services within India, no separate disclosures pertaining to attributable revenues, profits, assets, liabilities and capital employed are considered necessary.
7. Leases:
The Company has various operating leases for Office and other premises that are renewable on a periodic basis by mutual consent on mutually agreeable terms and cancellable at its option. Rental/lease expenses for operating leases recognised in the Statement of Profit and Loss for the year is Rs.36,85,886/- (Previous Year Rs.23,96,004/-).
8. Corporate social responsibility (CSR):
(a) Gross amount required to be spent by the Company during the year Rs. Nil.
(b) Amount spent during the year Rs. Nil.
Mar 31, 2015
1. Corporate Information:
Alphageo (India) Limited (the Company or AGIL) is a public limited
company incorporated under the provisions of erstwhile Companies Act,
1956 having its registered office at Hyderabad in the state of
Telangana, India. The Equity Shares of the Company are listed with
Stock Exchanges in India viz., BSE Limited, Mumbai and the National
Stock Exchange of India Limited, Mumbai.
The Company is a leading service provider of 2 Dimensional and 3
Dimensional Seismic Data Acquisition, Processing and Interpretation
Services for Oil Exploration and Production Entities. The Company
possesses an experience of working in difficult terrains while
respecting local socio-economic realities and environment.
2. Previous year figures have been regrouped/ recast/ rearranged
wherever necessary to conform to current year classification.
3. Change in accounting estimate:
As per the requirements of the Companies Act, 2013 ("the Act"), the
Company has computed depreciation on the basis of the useful lives of
tangible fixed assets in the manner prescribed in Schedule II of the
Act. Consequently, depreciation for the year is lower by H11,39,583/-
and depreciation of H56,96,307/- on account of assets whose useful life
is already exhausted as on 1st April, 2014 has been charged off to
Statement of Profit and Loss.
4. In the opinion of the Board, all assets other than fixed assets and
non-current investments have a value on realization in the ordinary
course of business at least equal to the amount at which they are
stated and provision for all known liabilities have been made.
5. Dues of the Micro and Small Enterprises:
Information pertaining to Micro and Small Enterprises as required to be
disclosed under the Micro, Small and Medium Enterprises Development
Act, 2006 (Act) as given below and the information mentioned at Note
No.7 Trade Payables w.r.t. dues of micro and small enterprises has
been determined to the extent such parties have been identified on the
basis of information available with the Company and relied on by the
auditors:
6. Derivative Instruments:
i. There are no foreign currency exposures that are covered by
derivative instruments as on 31.03.2015 (As on 31.03.2014: H Nil).
ii. The details of foreign currency exposures that are not hedged by
any derivative instruments or otherwise are as under:
7. Employee Stock Option Scheme:
In respect of Options granted to employees under the Employees Stock
Option Scheme, in accordance with the guidelines issued by Securities
and Exchange Board of India, the accounting value of options,
determined based on market price of the share on the before day of the
grant of the Option, is accounted as Deferred Employee Compensation
Costs and the same is being amortized on straight line basis over the
vesting period of stock options.
There are no Outstanding Options granted to employees as on 31.03.2015.
However, during the previous year, consequent to expiry/forfeiture of
20,234 such options, an amount of H19,73,827/- has been written back.
8. Segmental Reporting:
As the Company's business consists of one reportable business and
geographical segment of Seismic Data Acquisition and its related
services within India, no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are considered necessary.
9. Leases:
The Company has various operating leases for Office and other premises
that are renewable on a periodic basis by mutual consent on mutually
agreeable terms and cancellable at its option. Rental/lease expenses
for operating leases recognized in the Statement of Profit and Loss for
the year is H23,96,004/- (Previous Year H26,01,818/-)
10. Corporate social responsibility (CSR):
(a) Gross amount required to be spent by the company during the year H
Nil.
(b) Amount spent during the year Nil.
Mar 31, 2014
1. Corporate Information:
Alphageo (India) Limited (the Company or AGIL) is a public limited
company incorporated under the provisions of Companies Act, 1956 having
its registered office at Hyderabad in the state of Andhra Pradesh,
India. The Equity Shares of the Company are listed with Stock Exchanges
in India viz., BSE Limited, Mumbai and The National Stock Exchange of
India Limited, Mumbai.
The Company is a leading service provider of 2 Dimensional and 3
Dimensional Seismic Data Acquisition, Processing and Interpretation
Services for Oil Exploration and Production Entities. The Company
possesses an experience of working in difficult terrains while
respecting local socio-economic realities and environment.
2. Previous year figures have been regrouped/ recast/ rearranged
wherever necessary to conform to current year classification.
3. Contingent Liabilities and Commitments:
(Amount in Rs.)
Particulars 2013-14 2012-13
Contingent Liabilities:
Towards Guarantees issued by bank - 5,42,90,500
Income tax demands disputed by the company 94,55,450 94,55,450
4. In the opinion of the Board, all assets other than fixed assets and
non-current investments have a value on realisation in the ordinary
course of business atleast equal to the amount at which they are stated
and provision for all known liabilities have been made.
As a matter of prudence, company has made a provision of Rs.
86,74,704/- towards doubtful recovery of Trade Receivables.
5. Disclosure on utilisation of proceeds of preferential issue of
securities in terms of SEBI (ICDR) Regulation 2009:
The Company has issued and allotted to Promoters and Promoter Group on
preferential basis, in compliance with the provisions of the erstwhile
Companies Act, 1956 and SEBI (issue of Capital and Disclosure
Requirements) Regulations, 2009 and all other applicable Laws, Rules
and Regulations, 2,50,000 Equity Shares of the Company on 10th August
2012 and 2,50,000 Equity shares, on exercising the option for
conversion of warrants allotted, on 02nd January, 2014 at Rs. 60/- per
Equity Share at a premium of Rs. 50/- per Equity Share of Rs. 10/- each
and received proceeds of Rs. 3,00,00,000/- on issue of these
securities. The entire proceeds have ultimately been, utilised for
Capital expenditure by acquiring equipment for the operations of the
Company.
6. Dues of the Micro and Small Enterprises:
Information as required to be disclosed under Schedule VI of the
Companies Act,1956 with reference to micro and small enterprises under
the micro, small and medium enterprises development Act, 2006 (Act) as
given below and the information mentioned at Note No.7 Trade Payables
w.r.t. dues of micro and small enterprises has been determined to the
extent such parties have been identified on the basis of information
available with the Company and relied on by the auditors.
7. Employee Stock Option Scheme:
In respect of Options granted to employees under the Employees Stock
Option Scheme, in accordance with the guidelines issued by Securities
and Exchange Board of India, the accounting value of options,
determined based on market price of the share on the before day of the
grant of the Option, is accounted as Deferred Employee Compensation
Costs and the same is being amortised on straight line basis over the
vesting period of stock options. Consequently for the current year, an
amount of Rs. 19,73,827/- has been written back (Previous Year Rs.
26,26,531/-).
8. Derivative Instruments:
There are no foreign currency exposures that are covered by derivative
instruments as on 31.03.2014 (Previous year: Rs. Nil).
9. Employee Benefits:
Defined Benefit Plans
The present value of obligation in respect of Provision for Payment of
Gratuity and Leave encashment is determined, based on actuarial
valuation using the Projected Unit Credit Method, which recognises each
period of service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final
obligation, recognised and charged off during the year are as under:
The estimates of rate of escalation in salary considered in actuarial
valuation, is determined taking into account inflation, seniority,
promotion and other relevant factors including supply and demand in the
employment market. The above information is as certified by the
actuary.
10. Segmental Reporting:
As the Company''s business consists of one reportable business and
geographical segment of Seismic Data Acquisition and its related
services within India, no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are considered necessary.
11. Leases:
The Company has various operating leases for Office and other premises
that are renewable on a periodic basis by mutual consent on mutually
agreeable terms and cancellable at its option. Rental/lease expenses
for operating leases recognised in the Statement of Profit and Loss for
the year is Rs. 26,01,818/- (Previous Year Rs. 29,47,143/-).
Mar 31, 2013
1. Corporate Information:
Alphageo (India) Limited (the Company or AGIL) is a public limited
company incorporated under the provisions of Companies Act, 1956 having
its registered office at Hyderabad in the state of Andhra Pradesh,
India. The Equity Shares of the Company are listed with Stock Exchanges
in India viz., BSE Limited, Mumbai and The National Stock Exchange of
India Limited, Mumbai.
The Company is a leading service provider of 2 Dimensional and 3
Dimensional Sesmic Data Acquisition, Processing and Interpretation
Services for Oil Exploration and Production Sector in India. The
Company possesses an experience of working in difficult terrains while
respecting local socio-economic realities and environment. The Company
has expanded its activities through its Subsidiary and Step-down
Subsidiary viz., Alphageo International, Dubai and Alphageo DMCC, Dubai
to cater to the international markets.
2. Previous year figures have been regrouped/ recast/ rearranged
herever necessary to conform to current year classification.
3. Contingent Liabilities and Commitments: (Amount in Rupees)
Particulars 2011-12 Contingent Liabilities:
Towards Guarantees issued by bank 5,42,90,500 3,54,50,500
Income tax demands disputed by the company 94,55,450 k 16,57,548
4. In the opinion of the Board, all assets other than fixed assets and
non-current investments have a value on realisation in the ordinary
course of business atleast equal to the amount at which they are stated
and provision for all known liabilities have been made.
As a matter of prudence, company has made a provision of Rs.88,51,739/-
towards doubtful recovery of Trade Receivables.
5. Disclosure on utilisation of proceeds of preferential issues in
terms of SEBI (ICDR) Regulation 2009:
In pursuance of approval, under Section 81(1A) of the Companies Act
1956, of the Members at the Extra Ordinary General Meeting held on 30th
July, 2012 and in compliance with SEBI (Issue of Capital And Disclosure
Requirements) Regulations, 2009 and applicable laws, rules and
regulations, the Company has issued and allotted, to promoter and
promoter group on preferential basis, 2,50,000 Equity shares of Rs.
10/- each at a premium of Rs. 50/- per share (issue price Rs. 60/- per
equity share) and 2,50,000 Convertible Warrants of Rs. 60/- each
convertible into One Equity Share of Rs. 10/- each at the option of the
Allotees with in a period of 18 months from the date of issue subject
to fulfillment of terms of the issue on which 25% of the issue price
has been received as allotment money. The Company in aggregate has
received , Rs.1,87,50,000/- on issue of these Securities during the
year. The Proceeds thus received have been utilised in total in terms
of one of the objects of issue viz., for enhanced financial
requirements of the Subsidiaries for execution of their contracts.
6. Dues of the Micro and Small Enterprises:
Information as required to be disclosed under Schedule VI of the
Companies Act,1956 with reference to micro and small enterprises under
the micro, small and medium enterprises development Act, 2006 (Act) as
given below and the information mentioned at Note No.6 Trade Payables
w.r.t. dues of micro and small enterprises has been determined to the
extent such parties have been identified on the basis of information
available with the Company and relied on by the auditors:
7. Employee Stock Option Scheme:
a. In respect of Options granted to employees under the Employees Stock
Option Scheme, in accordance with the guidelines issued by Securities
and Exchange Board of India, the accounting value of options,
determined based on market price of the share on the before day of the
grant of the Option, is accounted as Deferred Employee Compensation
Costs and the same is being amortised on straight line basis over the
vesting period of stock options. Consequently for the current year, an
amount of Rs.26,26,531/- has been written back (Previous Year
Rs.29,83,618/-).
8. Segmental Reporting:
As the Company''s business consists of one reportable business and
geographical segment of Seismic Data Acquisition and its related
services within India, no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are considered necessary.
9. Leases
The Company has various operating leases for Office and other premises
that are renewable on a periodic basis by mutual consent on mutually
agreeable terms and cancellable at its option. Rental/lease expenses
for operating leases recognised in the Statement of Profit and Loss for
the year is Rs.29,47,143/- (Previous Year Rs.38,77,625/-).
10. The Company has incurred cash loss of Rs.3,81,96,565/- for the year
ended 31st March, 2013. And as at 31st March, 2013 the Company has
Current Liabilities constituting Creditors for Capital Works of
Rs.12,71,94,273/- and Other Operational Current Liabilities of
Rs.6,28,23,710/- aggregating to Rs.19,00,17,983/- and the Current
Assets of Rs.7,87,95,383/-. The total Current Liabilities as at the
year end exceed total Current Assets by Rs.11,12,22,600/-. The Company,
being confident of its continued and profitable operations, is poised
towards discharging all its current obligations.
Mar 31, 2012
Terms/rights attached to equity shares:
The Company has only one class of equity shares having a par value of
Rs.10/- per share. Each holder of equity shares is entitled to one vote
per share. The company declares and pays dividends in Indian rupees.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.
1. Corporate Information:
Alphageo (India) Limited (the Company or AGIL) is a public limited
company incorporated under the provisions of Companies Act, 1956 having
its registered office at Hyderabad in the state of Andhra Pradesh,
India. The Equity Shares of the Company are listed with Stock Exchanges
in India viz., The Bombay Stock Exchange Limited, Mumbai and The
National Stock Exchange of India Limited, Mumbai.
The Company is a leading service provider of 2 Dimensional and 3
Dimensional Seismic Data Acquisition, Processing and Interpretation
Services for Oil Exploration and Production Sector in India. The
Company possesses an experience of working in difficult terrains while
respecting local socio-economic realities and environment. The Company
has expanded its activities through its Subsidiary and Step- down
Subsidiary viz., Alphageo International, Dubai and Alphageo DMCC, Dubai
to cater to the international markets.
2. Presentation and Disclosure of Financial Statements:
During the year ended 31st March 2012, the Revised Schedule VI notified
under the Companies Act 1956, has become applicable to the Company, for
preparation and presentation of its financial statements. The adoption
of Revised Schedule VI does not impact recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on presentation and disclosures made in the
financial statements. The Company has also reclassified the previous
year figures in accordance with the requirements applicable in the
current year.
3. Contingent Liabilities and Commitments: (Amount in Rupees]
Particulars 2011-12 2010-11
A. Contingent Liabilities:
Towards Guarantees issued by Bank 3,54,50,500 4,23,95,209
Income Tax demands disputed by
the Company 16,57,548 16,57,548
Towards Guarantees issued by the
Company on behalf of Subsidiary - 3,36,34,175
4. Current assets and loans and advances:
In the opinion of the Board of Directors the assets other than fixed
assets and non-current investments have a value realisation in the
ordinary course of business at least equal to the amount at which they
are stated and provision for all known liabilities has been made.
5. Dues of the Micro and Small Enterprises:
Information as required to be disclosed under Schedule VI of the
Companies Acts,1956 with reference to micro and small enterprises under
the micro, small and medium enterprises development Act, 2006 (Act) as
given below and the information mentioned at Note No.6 Trade Payables
w.r.t. dues of micro and small enterprises has been determined to the
extent such parties have been identified on the basis of information
available with the Company and relied on by the auditors:
6. Employee Stock Option Scheme:
a. In respect of Options granted to employees during the year, under
the Employees Stock Option Scheme, in accordance with the guidelines
issued by Securities and Exchange Board of India, the accounting value
of options, determined based on market price of the share on the before
day of the grant of the Option, is accounted as Deferred Employee
Compensation Costs and the same is being amortised on straight line
basis over the vesting period of stock options. Consequently for the
current year, an amount of Rs.29,83,618/- has been written back
(Previous Year Rs. 42,25,981/- has been amortised).
iii. Defined Benefit Plans
The present value of obligation in respect of Provision for Payment of
Gratuity and Leave encashment is determined, based on actuarial
valuation using the Projected Unit Credit Method, which recognises each
period of service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final
obligation, recognised and charged off during the year are as under:
The estimates of rate of escalation in salary considered in actuarial
valuation, is determined taking into account inflation, seniority,
promotion and other relevant factors including supply and demand in the
employment market. The above information is as certified by the
actuary.
7. Segmental Reporting:
As the Company's business consists of one reportable business and
geographical segment of Seismic Data Acquisition and its related
services within India, no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are considered necessary..
2. Related Party Transactions:
The details of transactions with the related parties as defined in the
Accounting Standard AS-18 Related Party Transactions notified under the
Companies Act, 1956 are given below:
i. List of Related Parties with whom transactions have taken place and
nature of relationships:
a. Key Management Personnel
Sri A. Dinesh
b. Relatives of Key Management Personnel
Sri A. Rajesh
c. Companies in which the Relatives of Key Management Personnel has
substantial Interest:
Aquila Drilling Private Limited
d. Subsidiaries:
Alphageo International Limited
e. Step-down subsidiaries:
Alphageo DMCC
8. Leases:
The Company has various operating lease for Office and other premises
that are renewable on a periodic basis by mutual consent on mutually
agreeable terms and cancellable at its option. Rental/lease expenses
for operating leases recognised in the Statement of Profit and Loss for
the year is Rs.38,77,625/- (Previous Year Rs. 68,94,979/-)
Mar 31, 2010
1. Previous year figures have been regrouped or reclassified wherever
necessary to conform to the current year classification. The figures
have been rounded off to the nearest rupee.
2. Contingent Liabilities:
i. Towards Guarantees issued by Bank à Rs. -55,534,735 (Previous year:
Rs. 140,055,010)
ii. Income Tax demands disputed by the Company à Rs. 1,657,548
(Previous year: Rs. 1,657,548)
3. Dues of Micro, Small & Medium Enterprises:
Information as required to be disclosed under Schedule VI of the
Companies Acts, 1956 with reference to Micro, Small and Medium
Enterprises under the Micro, Small and Medium Enterprises Development
Act, 2006 (Act) as given below and the information mentioned in
Schedule No.13: Current Liabilities, with respect to dues of Micro,
Small and Medium Enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the Company and relied on by the auditors:
4. Employee Stock Option Scheme
a. In respect of Options granted to employees during the year, under
the Employees Stock Option Scheme, in accordance with the guidelines
issued by Securities and Exchange Board of India, the accounting value
of options, determined based on market price of the share on the before
day of the grant of the Option, is accounted as Deferred Employee
Compensation Costs and the same is being amortised on straight line
basis over the vesting period of stock options. Consequently for the
current year, an amount of Rs. 3,175,161/-(Previous Year Rs. 756,859/-)
has been amortised.
5. Segmental Reporting
As the Companys business consists of one reportable business and
geographical segment of Seismic Data Acquisition and its related
services within India, no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are given.
6. Related Party Transactions
The details of transactions with the related parties as defined in the
Accounting Standard AS-18 Related Party Transactions notified under the
Companies Act, 1956 are given below:
i. List of Related Parties with whom transactions have taken place and
nature of relationships:
a. Key Management Personnel
Sri A. Dinesh
b. Relatives of Key Management Personnel
Sri A. Rajesh
Sri A.Dinesh (HUF)
c. Companies in which the Relatives of Key Management Personnel has
substantial Interest:
Aquila Drilling Private Limited
7. Leases
The Company has various operating leases for Office and other premises
that are renewable on a periodic basis by mutual consent on mutually
agreeable terms and cancellable at its option. Rental / lease expenses
for operating leases recognised in the Profit and Loss Account for the
year is Rs. 7,319,787/- (Previous Year Rs. 2,616,000)
8. Derivative Instruments
i. There are no foreign currency exposures that are covered by
derivative instruments as on March 31, 2010 (Previous year: Rs. Nil).
ii. The details of foreign currency exposures that are not hedged by
any derivative instruments or otherwise are as under:
9. In the opinion of the Board of Directors the current assets, loans
and advances have a value realization in the ordinary course of
business at least equal to the amount at which they are stated and
provision for all known liabilities has been made.
10. Additional information pursuant to the provisions of Part-IV of
the Schedule-VI of the Companies Act, 1956 is given in the Annexure.
Mar 31, 2000
1. Previous year figures have been regrouped wherever necessary and
the figures have been rounded off to the nearest rupee.
2. As per the loan agreement executed with IFCI and ICICI, in case of
default in payment or repayment of principal, interest or other sums,
the institutions have the right to opt for the conversion of whole of
the outstandings or a part thereof into fully paid equity shares of the
company at par value.
1999-2000 1998-99
Rs. Rs.
3. Contingent Liabilities :
i. Towards Guarantees issued by Bank 43,74,290 17,68,130
ii. Towards claims not acknowledged as
debts by the Company 40,51,937 40,51,937
4. (i) The comany had entered into a contract with Hindustan Oil
Exploration Company Ltd. (HOEC) for conducting 2-D Seismic Survey in
Pranhita Godavari Basin in Andhra Pradesh. Due to the circumstances
beyond the control of the company the contract had been suspended after
completion of part of the work. The company had raised bills for the
work done and also for stand by charges and other amounts as per the
terms of contract. The party i.e. HOEC had admitted certain bills only
and after making part payment it had stopped payment pending sorting
out differences relating to billing. An amount aggregating to Rs.
152.36 lakhs is recoverable as on 31-03-2000 from HOEC consisting of
Rs. 116.71 lakhs against the bills raised but not received and Rs.
35.65 lakhs representing Bank Guarantee invoked by HOEC. The party as
well as the company have claims and counter claims against each other
for which arbitration proceedings are contemplated. No provision for
bad and doubtful debts has been made for the current year in the
accounts as the company is confident of recovering the amounts.
(ii) Having claims and counter claims with HOEC, the gain on amounts
receivable in foreign currency from HOEC, on account of foreign
exchange translation amounting to Rs. 4,53,200/- (Preious year Rs.
3,23,400/-) has not been recognised as income.
5. There are no dues to the Small Scale Industrial undertakings
exceeding Rs. 1.00 Lakh which is outstanding for more than 30 days.
6. ASSETS DISCARDED - Rs. 81,03,326/- :
Consequent to the changes in technologies for conducting the seismic
survey and other related activities, the company has identified certain
items of machinery which have been retired from active use and/or held
for disposal. In line with the Accounting Standard (As-10) issued by
the Institute of Chartered Accountants of India, such assets which have
been retired from active use have ben written down to the lower of
their net book value and net realisable value. The net realisable value
ascertained in respect of assets thus identified amounting to Rs.
7,55,555/- have been shown as "Scrap value for Fixed Assets in
Schedule- 4-Fixed Assets and the loss recognised in this process
amounting to Rs. 81,03,326/- has been shown as Assets discarded under
Schedule-14-Other Expenses".
7. Additional information pursuant to the provisions of Part-IV of
the Schedule-VI of the Companies Act, 1956 is given in the Annexure.
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మరింత సమాచారం Alphageo (India) Ltd.
-
Alphageo (India) Ltd. టూల్స్
- బల్క్ డీల్స్
- బ్లాక్ డీల్స్
-
Alphageo (India) Ltd. కంపెనీ వివరాలు
- కంపెనీ ప్రొఫైల్
- కంపెనీ చరిత్ర
- నిర్వహణ బృందం
- క్యాపిటల్ స్ట్రక్చర్
- ప్రొడక్ట్ మిక్స్
- బ్యాంకర్/ఆడిటర్/రిజిస్ట్రార్
-
కంపెనీ చరిత్ర
- బిఎస్ఇ ధర చరిత్ర
- ఎన్ఎస్ఇ ధర చరిత్ర
-
Alphageo (India) Ltd. ముఖ్య ఆర్థిక నిష్పత్తులు
- నిష్పత్తులు
-
Alphageo (India) Ltd. ఫలితాలు
- క్వార్టర్లీ ఫలితాలు
- హాఫ్ ఇయర్లీ ఫలితాలు
- 9నెలల ఫలితాలు
- వార్షిక ఫలితాలు
-
Alphageo (India) Ltd. ఆర్థిక డేటా
- ఆడిట్ ఫలితాలు
- క్యాష్ ఫ్లో
- బ్యాలెన్స్ షీట్
-
Alphageo (India) Ltd. నివేదికలు
- అకౌంటింగ్ విధానాలు
- ఆడిటర్స్ నివేదిక
- డైరక్టర్స్ నివేదిక
- ఖాతాకు గమనికలు
-
Alphageo (India) Ltd. కార్పొరేట్ ప్రకటనలు
- బుక్ క్లోజర్
- డివిడెండ్
- బోర్డు సమావేశాలు
-
భారత స్టాక్ మార్కెట్లు పతనం.. చమురు ధరలు పెరగడంతో కుప్పకూలిన మార్కెట్ -
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కుప్పకూలిన ఆసియా స్టాక్ మార్కెట్.. దెబ్బకు దక్షిణ కొరియా మార్కెట్లో నిలిచినపోయిన ట్రేడింగ్.. -
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Iran Israel war: ఇరాన్-ఇజ్రాయెల్ యుద్ధం! భారత ఆర్థిక వ్యవస్థకు, స్టాక్ మార్కెట్లకు ముప్పు తప్పదా? -
Buy or Sell: ఇరాన్-ఇజ్రాయెల్ యుద్ధం: మార్కెట్ పడినా లాభాలు ఇచ్చే 3 కీలక స్టాక్స్ ఇవే! -
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Stock market: భారీగా పతనమైన స్టాక్ మార్కెట్! ఇప్పట్లో కోలుకుంటుందా? నిపుణులు ఏమంటున్నారు? -
కుప్పకూలిన స్టాక్ మార్కెట్..భారీగా పతనమైన ఐటీ కంపెనీల షేర్లు.. కారణం ఏంటంటే.. -
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